Too often, we talk to marketers whose idea of audience segmentation is not just limited, but terribly egocentric. By egocentric, I mean that they view their audience segments in terms of their own product or service lines: Segment 1 is the folks we sell this service to. Segment 2 is the folks we sell that service to.
You are, I’m sure, at least a few steps ahead of the worst offenders, but you may still be leaving opportunities unaddressed. Here are some new ways to think about your audience.
Industry considerations are probably the grand-daddy of all segmentation. Even folks who think egocentrically about their audience are smart enough to realize that their products are likely to be appealing in different ways to different audiences. The features are the same, but the benefits change depending on the industry’s needs.
You can capitalize on this by creating content that is industry-specific and highlights the benefits that are most pertinent to that industry’s most common needs. As with all of the segmentation examples we’re discussing, this can be implemented in some combination of your website landing pages, email marketing subscriptions and even speaking engagements, among other things.
2. Company Size
Just as different industries will have different needs, so will organizations of varying sizes. Again, you’ll want to focus on differentiation of benefits of your product or service. For example, your product’s ability to eliminate the need for more staff as business grows is likely to be more valuable to a large organization than a small one — saving a few hours a week isn’t going to change the head count in an organization where those savings are multiplied by only one employee. But if the multiplier is dozens of employees, that’s a different story.
The CFO may be the decider-in-chief when it comes to adding products or services for accounting and compliance teams, but her interests will be quite different from those of an in-the-trenches accountant in the same organization. If she’s smart, she’ll let those accountants have their say in what tools they get to use for their tasks. If you’re smart, you’ll position your solutions differently to each role. For one group you might want to highlight how your solution makes their lives easier day-to-day. For the other, cost savings or consistency across the organization might be the pain point to address.
4. Past Purchase Behavior
You don’t interact with your close friends the same way you do with acquaintances or complete strangers, do you? So why wouldn’t you differentiate your marketing for new prospects, lapsed customers and key accounts?
Technology is getting all the press these days, but good solid relationships matter, too. Talking to your customers can help you understand typical paths as companies grow (or contract) and mature or morph into new businesses. With that understanding, you can pro-actively engage with customers who are starting down similar paths. There’s real magic in knowing what a client will need before he does!
5. Content Consumption Behavior
Technology again gets a starring role in the realm of content consumption behavior. Tracking what content is most popular in aggregate is fantastic; it guides you to create more content like it. But tracking individual preferences is powerful, too, since it can help you make content recommendations that are most relevant to that prospect’s needs — and most useful to you in helping them through the buyer’s journey.
Not all of these segmentation approaches will make sense for your business, but technology continues to make tracking behavior and segmentation easier than ever, so you should be revisiting these concepts on at least an annual basis. As your business changes so might the ways you drill down into your funnel to best meet your prospects’ needs.